New Stock News | Woodpecker Hong Kong IPO Prospectus Fails for the Second Time

The Woodpecker Repair International Limited (hereinafter referred to as "Woodpecker") Hong Kong IPO prospectus submitted on September 30, 2024 expired after 6 months on March 30, 2025, with CICC and Zhongtai International as its joint sponsors at the time of submission. This is the second time the company's IPO submission has expired, with the previous one submitted on January 29, 2024 also expiring on July 29, 2024. Woodpecker is the largest home repair platform. The Woodpecker platform provides convenient, transparent, and trustworthy services to tens of millions of Chinese families in over 300 cities, while also providing engineers with opportunities for sustainable income. According to the data from Burnt Consultants, based on the total transaction volume in 2023, Woodpecker holds a market share of up to 2.4% in China's online home repair industry. The prospectus shows that the total transaction volume of the Woodpecker platform increased from RMB 990 million in 2021 to RMB 1.46 billion in 2022, and further increased to RMB 2.48 billion in 2023, with a compound annual growth rate of 58.5% from 2021 to 2023. As of the six months ending June 30, 2024, the total transaction volume on the platform was RMB 1.57 billion.